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FOX News
Dec 2, 2012 3:00am PST
the fiscal cliff this morning, with the president on to something in 2010 when president obama said you don't want to raise taxes in the times of economic strive? obviously, raising, letting the bush era tax cuts expire and going through an economic recovery, do you want to let the tax cuts expire? so many americans are hurting. anything change from 2010 to 2012? maybe more context and this morning we have a little more context because now we know the u.s. household net worth has reached a 43-year low. so, it begs the question for washington, this the time now you want to raise taxes on those particular americans? >> this comes from a study from an nyu economics professor and his name is alan wolf and he has said that the net worth, now, this isn't your income, your net worth is now $57,000, the median net worth. in other words, it's the lowest as clayton said in decades because debt has balooned so much in the middle class and your net worth is much lower than it used to be 30 years ago. >> and much because home values have declined. so, the money you owen your home is more than it
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